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Our History

Creative Investment Research was founded in 1989. We launched this website on November 16, 1995. We have become one of the most innovative and impactful investment, economic and research firms ever..

We are Economists and Innovators

We developed the original impact investing analysis tools, with great results. On June 18, 1998, we opposed the Citibank/Travelers Merger, approved by the Federal Reserve Board on September 23, 1998. In our opposition, we cited evidence that growing financial market malfeasance greatly exacerbated risks in financial markets, reducing the safety and soundness of large financial institutions. We forecast that 10 years after approval, the country would be impacted by a large financial crisis...

We create unusually impactful, high return investment initiatives...

We pioneered the systematic use of financial and social data in the selection and evaluation of financial institutions when we created the first social and financial impact methodology, the Fully Adjusted Return (TM) index, in 1991. We developed the first CRA securitization. We helped create a refinancing plan for victims of predatory lending.

Focus and Rationale

Domestic financial markets have, for the most part, ignored investment opportunities in markets populated by minorities and women. Certain institutions have benefited from an unprecedented amount of government financial support. Making even a small effort to assist markets populated by minorities and women will help even the distribution of income and wealth, contribute to domestic political and economic stability, and earn a competitive return. The nation, investors, women, and minorities are well served by these efforts.


The firm specializes in impact investing. Impact investing describes a style of investing combining a desire to maximize financial return with an attempt to maximize social good. Impact Investing The Community Development Financial Institution Fund of the U.S. Department of the Treasury certified the firm as a Community Development Entity on August 29, 2003. We note that registration by any of these entities does not imply endorsement of the firm, Mr. Cunningham, his activities or his ratings.


Outstanding forecasting and investment product track records

On June 18, 1998, December 22, 2003 and February 6, 2006, we warned the Federal Reserve and the S.E.C. that statistical models we created using the Fully Adjusted Return (TM) Methodology signaled the probability of system-wide economic and market failure. In 2005, we served as an expert witness for homeowners in a case against PMI Group, Credit Suisse First Boston, Moody’s, Standard and Poor’s, Fairbanks Capital Corporation, Select Portfolio Servicing, US Bank National Association, as Trustee of CSFB ABS Series 2002-HEI, et. al., in the New Jersey Superior Court Law Division - Monmouth County. We sought to establish that the corporate parties listed above were, in fact, responsible for facilitating unfair, fraudulent and predatory lending practices.

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How we work

Our independence is critical. We have, over the years, observed a growing lack of objectivity in the financial markets.

This lack of objectivity is less important during times of increasing asset values, but, as we have seen, independence and the objectivity it allows becomes critically important when markets stumble.


We have demonstrated that it possible to create investments and portfolios that perform well financially and that address social concerns. We have invented and developed many investment opportunities of this type.


We developed the first Community Reinvestment Act securitization. (MBS pool backed by loans from minority financial institutions. Investment first proposed in 1992.) .


We have been recognized as an Amicus Curaie (Friend of the Court) in the US Court of Appeals for the District of Columbia Circuit, in the US Court of Appeals for the Second Circuit of NY, and in the US District Court for the Southern District of California.


We have also testified before both the Ways and Means and the Financial Services Committees of the US House of Representatives.

Our Clients

We are proud to have worked with several of the largest (and smallest) financial institutions in the world.


Meet the Founder

We've enjoyed more years practicing than most like to admit.

Our experience and expertise cannot be duplicated. It is both broad and deep, given that we have been active in social investing for some time:

We are, quite simply, the best at what we do.

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